Posted by Anna on May 28, 2000 at 11:08:57:
In Reply to: Two-year renewal? posted by brenda on May 28, 2000 at 11:03:47:
: : If the Golub Notice had not been timely served, then the landlord would have to renew the lease and wait another two years (if the tenant wisely chose a two-year renewal lease) to serve a timely Golub Notice near the end of the term of the renewal lease.
: Just a naive question, if you don't mind -- why would a tenant be wise to choose a two-year renewal?
: In recent years it has made more economic sense to choose one-year renewals, because of the lower increase. Since a landlord must renew the lease, why renew for two years if one year makes more economic sense?
Economic sense as far as RENT goes, but tenant will be exposed to new Golub Notice and new expensive lawsuit in less than one year. Golub can only be done in same window period as Lease Renewal Offer: 120-150 days before end of lease in NYC.
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